Market Forecast By Type (Cartridge Razors, Disposable Razors, Electric Razors, Straight Razors, Safety Razors), By Segment (Mass, Standard, Premium), By Distribution Channel (Supermarkets/Hypermarkets, Department Stores, Convenience Stores, Online), By Blade Type (Stainless Steel, Carbon Steel), By Consumer (Men, Women) And Competitive Landscape
Product Code: ETC427280 | Publication Date: Aug 2023 | Updated Date: Apr 2024 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 | |
India Razor Market registered a growth of 1.34% in value shipments in 2022 as compared to 2021 and an increase of 1.3% CAGR in 2022 over a period of 2017. In Razor Market India is becoming less competitive as the HHI index in 2022 was 4060 while in 2017 it was 2352. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on domestic production to meet its growing demand in the Razor Market.
India is unable to meet its increasing needs for this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of the Razor Market in 2022 was 0.73 while in 2017 it was 0.63. Viet Nam, Poland, China, Sri Lanka, and the USA were among the top players in the market in 2022, where Viet Nam acquired the largest market share of 55.67% with a shipment value of 29.91 million USD in 2022 Viet Nam also offered the product below the average market price thus having a competitive advantage over others In 2017 Viet Nam had the largest market share of 26.79% with the shipment value of 13.14 million USD. The country was offering its product with an average price that was lower than the average market price offered in the country. As Viet Namprice is lower than the average price, it provided a significant edge over another competitor in 2017.
India Razor Market report thoroughly covers the market by type, by segment, by distribution channel, by blade type, and by consumer. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
India Razor Market is estimated to register tremendous growth in the coming years underpinned by the rising disposable income of the consumers leading to spending more on personal grooming products including, razors. The availability of advanced technology-based razors such as multi-blade systems and pivoting heads that attract consumers to spend on these razors is estimated to be one of the major factors in driving the India Razor Market growth. The rising expansion of online channels allows consumers to access razor brands. This drives the market expansion.
According to 6Wresearch, the India Razor Market size is estimated to augment during the forecast period 2023-2029. The market is securing growth in the country on the back of the growing consumer purchasing power, rising digital razor brands, and availability of advanced razors. Additionally, rising awareness about personal grooming in men leads to driving the razor demand. In addition to this, urbanization is another aspect proliferating razor sales in the country, as this leads to the adoption of a modern lifestyle that includes, a well-groomed appearance. The rising expansion of the corporate sector, where male grooming is becoming a trend is contributing more to generating higher razor sales in the country.
COVID-19 had a significant impact on the India Razor Market which is a part of the Asia Pacific razor market. During the lockdown period market experienced a mixed influence as people stayed at home and groomed themselves, as a result, the demand for razors increased. On the other side, the travel restrictions imposed by the government had affected the supply of raw materials, which resulted in a delay in the manufacturing process. All these measures had resulted in a decline in the market shares.
India Razor Market is highly competitive with the presence of numerous players in the market, offering a premium range of razors integrated with advanced technologies. Some of the leading players are mentioned below in the list.
The India Razor Market is growing rapidly in the country with some ongoing market trends & opportunities. Online purchase is one of the leading trends that has boosted razor sales. The rising availability of advanced technology-based razors in rural areas, attracting rural people to spend to attain a well-groomed appearance is contributing to the growth of the India Razor industry. Moreover, Brands are investing in developing top-notch razors with various features to meet diverse skin type demands. eco-friendly and sustainable razors demand is also increasing with the rising environmental concerns acting as an opportunity for the manufacturers to develop these razors and attain high product sales. Also, razors are being used by women as their preferences shift towards razor for facial hair removal instead of wax, which is a growing trend proliferating the razor demand at an extensive rate.
According to Nitesh Kumar, Research Manager, 6Wresearch, it is difficult to say which razor type is generating high sales, as all the razor types are being used by the consumers and their demand is dependent on various factors such as cultural shifts and consumer preferences.
Based on the distribution channel, it is again difficult to declare which distribution channel is securing high product sales as consumers' preferences remain changing. However, the online channel has been growing and generating a high India Razor Market share underpinned by rising online purchases.
Based on the consumers, the men's segment is registering a sale of razors, as it is being the primary tool to remove facial hair, on the other side, the women's segment is also increasing product demand with the rising replacement of wax with razors.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Razor Market Overview |
3.1 India Razor Market Revenues & Volume, 2019 - 2029F |
3.2 India Razor Market - Industry Life Cycle |
3.3 India Razor Market - Porter's Five Forces |
3.4 India Razor Market Revenues & Volume Share, By Type, 2022 & 2029F |
3.5 India Razor Market Revenues & Volume Share, By Segment, 2022 & 2029F |
3.6 India Razor Market Revenues & Volume Share, By Distribution Channel, 2022 & 2029F |
3.7 India Razor Market Revenues & Volume Share, By Blade Type, 2022 & 2029F |
3.8 India Razor Market Revenues & Volume Share, By Consumer, 2022 & 2029F |
4 India Razor Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 India Razor Market Trends |
6 India Razor Market, By Types |
6.1 India Razor Market Segmentation |
6.1.1 Overview and Analysis |
6.1.2 India Razor Market Revenues & Volume, By Type, 2019 - 2029F |
6.1.3 India Razor Market Revenues & Volume, By Cartridge Razors, 2019 - 2029F |
6.1.4 India Razor Market Revenues & Volume, By Disposable Razors, 2019 - 2029F |
6.1.5 India Razor Market Revenues & Volume, By Electric Razors, 2019 - 2029F |
6.1.6 India Razor Market Revenues & Volume, By Straight Razors, 2019 - 2029F |
6.1.7 India Razor Market Revenues & Volume, By Safety Razors, 2019 - 2029F |
6.2 India Razor Market, By Segment |
6.2.1 Overview and Analysis |
6.2.2 India Razor Market Revenues & Volume, By Mass, 2019 - 2029F |
6.2.3 India Razor Market Revenues & Volume, By Standard, 2019 - 2029F |
6.2.4 India Razor Market Revenues & Volume, By Premium, 2019 - 2029F |
6.3 India Razor Market, By Distribution Channel |
6.3.1 Overview and Analysis |
6.3.2 India Razor Market Revenues & Volume, By Supermarkets/Hypermarkets, 2019 - 2029F |
6.3.3 India Razor Market Revenues & Volume, By Department Stores, 2019 - 2029F |
6.3.4 India Razor Market Revenues & Volume, By Convenience Stores, 2019 - 2029F |
6.3.5 India Razor Market Revenues & Volume, By Online, 2019 - 2029F |
6.4 India Razor Market, By Blade Type |
6.4.1 Overview and Analysis |
6.4.2 India Razor Market Revenues & Volume, By Stainless Steel, 2019 - 2029F |
6.4.3 India Razor Market Revenues & Volume, By Carbon Steel, 2019 - 2029F |
6.5 India Razor Market, By Consumer |
6.5.1 Overview and Analysis |
6.5.2 India Razor Market Revenues & Volume, By Men, 2019 - 2029F |
6.5.3 India Razor Market Revenues & Volume, By Women, 2019 - 2029F |
7 India Razor Market Import-Export Trade Statistics |
7.1 India Razor Market Export to Major Countries |
7.2 India Razor Market Imports from Major Countries |
8 India Razor Market Key Performance Indicators |
9 India Razor Market - Opportunity Assessment |
9.1 India Razor Market Opportunity Assessment, By Type, 2022 & 2029F |
9.2 India Razor Market Opportunity Assessment, By Segment, 2022 & 2029F |
9.3 India Razor Market Opportunity Assessment, By Distribution Channel, 2022 & 2029F |
9.3 India Razor Market Opportunity Assessment, By Blade Type, 2022 & 2029F |
9.5 India Razor Market Opportunity Assessment, By Consumer, 2022 & 2029F |
10 India Razor Market - Competitive Landscape |
10.1 India Razor Market Revenue Share, By Companies, 2022 |
10.2 India Razor Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |